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Citi forecast Brent crude oil to average $75/barrel in 2024

Citi forecast Brent crude oil to average $75/barrel in 2024

News
By Eamonn Sheridan
07/03/2024 | 23:05 GMT
  • Citi's forecast is barring any unexpected supply disruption

Projections from Citi come via a Reuters report:

  • Raises 2Q 2024 price forecast to $78/bbl (from $72/bbl), owing to larger-than-expected supply disruptions during 1Q 2024, ongoing tensions in Middle East
  • "We remain less bullish, expecting Brent to fall into the low $70s/bbl by year end, barring any unexpected supply disruption"
  • Expects Brent to average $75/bbl in 2024
a red steel barrel of oil riding on a rollercoaster

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